Dean told analysts, "We have adopted the same operational transformation approach in the UK as in Brazil, and although the transformation in the UK is still in its early stages, we have already seen encouraging signs of recovery."
As Brazil is Entain's fastest-growing market, Dean explained that Brazil is its fastest-growing market, while the UK is its largest market.
Due to increased performance marketing investment by Sportingbet in Brazil and the recovery of brand experience, the number of first-time depositors (FTD) in Brazil in the first half of 2024 is expected to be higher than in 2022 and 2023.
Localization of payments aids growth. After the launch of Pix's instant payment service, it attracted over a million deposits within a week of its launch in Brazil.
Entain's Chief Product Officer, Satty Bhens, stated that localization is crucial for performance in markets like Brazil, and Entain has doubled the size of its localization team.
He noted that compared to the previous year, there will be four times the application improvements in 2024, and transitioning to regulated markets will be a top priority for the company.
Entain is also undergoing necessary technological and regulatory reforms to meet the requirements of Brazil's open gambling market, preparing for the launch in January 2025. Sportingbet applied for a license in July, meaning, if approved, it would be among the first batch of companies to be licensed.
